Last updated:
Crypto Writer
Arslan Butt
Crypto Writer
Arslan Butt
Share
Why Trust Cryptonews
TST (Test Token) has experienced a remarkable surge, gaining 54% in the last 24 hours and currently trading at $0.1229 with a trading volume of $607.95 million. This surge follows a sharp rebound from a low of $0.0721, completing a 50% Fibonacci retracement at $0.1410, which now acts as immediate resistance.
Breaking above this level could drive TST towards the next resistance at $0.1574 (61.8% Fibonacci level), with a potential extension to $0.1720 if bullish momentum continues.
However, if TST fails to break above $0.1410, profit-taking could push the price back to immediate support at $0.1246. A drop below this level could see further declines to the next support at $0.1046, followed by $0.0886, which aligns with the 23.6% Fibonacci level.
Technical Indicators and Market Sentiment
Key Technical Indicators:
- 50-Day Exponential Moving Average (EMA): Currently at $0.1249, acting as dynamic support. As long as TST remains above this EMA, the bullish sentiment remains intact.
- Fibonacci Retracement Levels:
- 50% Level at $0.1410: Immediate resistance.
- 61.8% Level at $0.1574: Next resistance if $0.1410 is breached.
- 23.6% Level at $0.0886: Key support if downward pressure intensifies.
Key Price Levels:
- Immediate Resistance: $0.1410 – A breakout could target $0.1574 and $0.1720.
- Next Resistance: $0.1574 and $0.1720 – Clearing these levels could drive TST higher.
- Immediate Support: $0.1246 – A break below this level could lead to further declines.
- Next Support: $0.1046 and $0.0886 – Critical zones to watch if selling pressure increases.
Is a Bullish Breakout Imminent?
The 50 EMA at $0.1249 is reinforcing the bullish outlook as long as TST remains above this level. A decisive breakout above $0.1410 could attract further buying interest, potentially driving TST towards $0.1574 and $0.1720 in the short term. Conversely, a close below the 50 EMA could signal a bearish reversal, increasing the likelihood of retesting lower support zones.
The bullish trend is likely to continue as long as TST trades above the $0.1246 pivot point. However, traders should be cautious of a breakdown below this level, as it could trigger a bearish reversal.
Key Insights:
- Resistance at $0.1410: The 50% Fibonacci retracement is the immediate resistance. A breakout above this level could push TST to $0.1574.
- Support at $0.1246: Immediate support at $0.1246, with the next levels at $0.1046 and $0.0886.
- Bullish Momentum Above 50 EMA: The 50 EMA at $0.1249 supports bullish continuation if TST remains above this level.
This technical outlook suggests that TST’s bullish momentum could persist if it breaks above the $0.1410 resistance. However, traders should closely monitor the $0.1246 support level, as a breakdown below this pivot point could trigger a bearish reversal.
BTC Bull: Earn Real Bitcoin Rewards
BTC Bull ($BTCBULL) is gaining traction as a meme-powered, community-driven token that rewards its holders with real Bitcoin. Unlike traditional tokens, BTC Bull automatically airdrops BTC to holders as Bitcoin hits key price milestones, creating a compelling incentive for early adopters and long-term investors.
The project also offers a staking feature with an attractive 169% annual yield, allowing users to earn passive income while supporting the token’s ecosystem. With a total staking pool of 620,764,851 BTCBULL, the rewards system is designed to maximize investor returns.
Currently, the presale is live with tokens available at $0.00238 each. Over $2.6 million has been raised out of a $3.07 million target. With a price increase on the horizon, now is an opportune time to invest and maximize potential rewards with BTCBULL.
